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: Loan Modification & Home Loan News

California hotel foreclosures rise as unemployment has curbed travel

By Moe Bedard

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April 1 (Bloomberg) — Hotel foreclosures in California climbed 27 percent in the first quarter from a year earlier as unemployment cut business travel. Foreclosures, including the 469-room Los Angeles Marriott Downtown, rose to 79 properties from 62 in the first three months of 2009. Defaults increased 6.5 percent to 327, Irvine, California-based Atlas Hospitality Group said [...]

Full post as published by Loan Modification & Home Loan News on April 01, 2010 (boomark / email).

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